The police’s investigation into allegations of fraud, forgery, conspiracy to commit fraud, and the circulation of forged comments levelled against former Edek leader Marinos Sizopoulos is expected to be handed to the legal service in the coming days, police spokesman Vyron Vyronos said on Friday.

“The investigative work has been completed. A study will now be carried out by the police’s legal department, and it will then be sent to the legal service to be studied and for instructions to be given in the coming days,” he told the Cyprus News Agency.

He remained coy regarding the findings of the police’s investigation, saying only that “the file will be studied by the legal service” when asked whether the police had found that Sizopoulos may have committed criminal offences.

The police launched an investigation into the matter following the release of a report written by the anti-corruption authority which found that he may be criminally liable. That report had been written after former Edek MP George Varnava, who left the party in 2024, filed a complaint about Sizopoulos’ conduct.

While the report began by stating that it “rejected several” of Varnava’s allegations, it found that Sizopoulos was the owner of the Ktimatiki Ltd company, which was one of four joint owners of another company, Taxan Properties Developers Ltd.

It wrote that Sizopoulos was a guarantor of a loan Taxan had taken out with a Cypriot bank but on which repayments had been missed, and that in light of this, the bank filed a lawsuit demanding the repayment of the amount due.

Sizopoulos, it wrote, held “consultations” with the bank, which agreed that if €1.625 million was paid to it, it would write off the remaining €956,900 of the loan’s amount.

Then, it wrote, a “foreign investor” bought the entirety of Taxan for €2.025m.

While Sizopoulos did not know the investor at the time of the transaction, the report stated that it emerged during its investigation that the investor had bought Taxan with the intention of being naturalised as a Cypriot citizen through the Republic of Cyprus’ citizenship-through-investment scheme, commonly known as the “golden passport” scheme.

The report stated that two purchase and sale documents related to the sale of Taxan were prepared, one of which declared that the company had been sold for €2.025m and the other of which declared that the company had only been sold for €1.6m.

The former was submitted to the interior ministry to allow the investor to be naturalised, while the latter was given to the bank for the purposes of reducing Taxan’s debts to it.

Later, when the tax department established that Taxan had been sold for €2.025m, it demanded the payment of capital gains tax based on that sale figure by the four companies which had previously jointly owned it, including Sizopoulos’ Ktimatiki.

However, Ktimatiki and another company objected to this demand, stating that the company had only been sold for €1.6m.

Pursuant to this, Varnava and two officials from companies which had owned shares in Taxan filed complaints to the police, stating that they had been unaware of the document which stated that the company had been sold for €2.025m.

The bank then filed a complaint to the police stating that had it known that Taxan had been sold for €2.025m rather than €1.6m, it would not have written off the €956,900 from the loan.

Based on these facts, the report stated that the authority believes that there is “sufficient evidence to demonstrate” that Sizopoulos was aware of both the actual sale price of Taxan and the contract stating that it had been sold for €2.025m.

When the report was released last year, Sizopoulos protested his innocence, telling newspaper Phileleftheros that he will “present all the evidence” to clear his name, and telling television channel Alpha that he had “no involvement” in the case investigated by the anti-corruption authority.